Vanguard Personalized Indexing Management LLC Raises Stock Holdings in Mueller Industries, Inc. $MLI

Vanguard Personalized Indexing Management LLC raised its position in Mueller Industries, Inc. (NYSE:MLI) by 9.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,650 shares of the industrial products company’s stock after acquiring an additional 1,223 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Mueller Industries were worth $1,164,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of MLI. GAMMA Investing LLC boosted its stake in Mueller Industries by 40.7% in the 1st quarter. GAMMA Investing LLC now owns 1,140 shares of the industrial products company’s stock worth $87,000 after purchasing an additional 330 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Mueller Industries in the first quarter worth $303,000. Janney Montgomery Scott LLC lifted its stake in shares of Mueller Industries by 77.2% during the first quarter. Janney Montgomery Scott LLC now owns 20,557 shares of the industrial products company’s stock worth $1,565,000 after buying an additional 8,953 shares during the period. State of Alaska Department of Revenue grew its holdings in shares of Mueller Industries by 1.1% during the first quarter. State of Alaska Department of Revenue now owns 33,325 shares of the industrial products company’s stock valued at $2,536,000 after buying an additional 355 shares during the last quarter. Finally, Nilsine Partners LLC acquired a new position in shares of Mueller Industries in the 1st quarter valued at $1,290,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Stock Up 0.0%

Shares of MLI opened at $98.58 on Friday. The company has a market capitalization of $10.91 billion, a price-to-earnings ratio of 15.65 and a beta of 1.02. Mueller Industries, Inc. has a 52 week low of $66.84 and a 52 week high of $102.75. The stock’s 50-day moving average price is $97.24 and its 200-day moving average price is $84.93.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.34. Mueller Industries had a return on equity of 24.47% and a net margin of 17.48%.The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.12 billion. The firm’s revenue was up 14.1% compared to the same quarter last year.

Mueller Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. Mueller Industries’s dividend payout ratio is 15.87%.

Insider Buying and Selling

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $91.97, for a total value of $91,970.00. Following the completion of the transaction, the director owned 92,664 shares of the company’s stock, valued at approximately $8,522,308.08. The trade was a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Mueller Industries in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $105.00.

Mueller Industries Company Profile

Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, South Korea, the Middle East, China, and Mexico. It operates through three segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment offers copper tubes, fittings, line sets, and pipe nipples.